Raymond James Downgrades EnWave (CVE:ENW) to Market Perform

EnWave (CVE:ENWGet Rating) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, BayStreet.CA reports. They presently have a C$1.10 price objective on the stock, down from their previous price objective of C$1.65. Raymond James’ price target would suggest a potential upside of 64.18% from the company’s current price.

Shares of ENW stock traded down C$0.01 during trading hours on Wednesday, reaching C$0.67. The company’s stock had a trading volume of 21,020 shares, compared to its average volume of 53,458. The stock has a market capitalization of C$73.95 million and a P/E ratio of -23.93. EnWave has a one year low of C$0.60 and a one year high of C$1.20. The firm’s fifty day simple moving average is C$0.78 and its 200 day simple moving average is C$0.87. The company has a current ratio of 3.26, a quick ratio of 2.07 and a debt-to-equity ratio of 12.92.

About EnWave (Get Rating)

EnWave Corporation designs, constructs, markets, licenses, installs, and sells vacuum-microwave machinery for the food, cannabis, and biomaterial dehydration industries in Canada and the United States. It offers radiant energy vacuum (REV) dehydration platforms, such as nutraREV and quantaREV to dehydrate fruits, vegetables, herbs, dairy products, ready-to-eat meals, instant baked goods, cannabis products, nutraceuticals, pharmaceuticals, and meats and seafood.

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